marketing on a shoestring budget

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Marketing on a Shoestring How to Stretch Small Budgets How to Stretch Small Budgets to Get BIG Results to Get BIG Results Presented by Debbie Elliott www.talkinc.com

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Tips on how to spur sales and build your brand when operating on a shoestring budget.

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Page 1: Marketing on a Shoestring Budget

Marketing on a Shoestring

How to Stretch Small Budgets How to Stretch Small Budgets to Get BIG Resultsto Get BIG Results

Presented byDebbie Elliott

www.talkinc.com

Page 2: Marketing on a Shoestring Budget

How Much to Spend?

A “rule of thumb” in marketing is:

• 5% to maintain status in market

• 10% to grow

Page 3: Marketing on a Shoestring Budget

How Much to Spend?

• Factors that influence % of spending:– Tenure in the marketplace– # of products to market– Industry (b2b requires less than retail)– How much & how quickly you want to grow– Competitive marketplace– External pressures - economy, etc.– Reputation

Page 4: Marketing on a Shoestring Budget

Educate & Measure

• Whenever possible, educate leadership about your industry’s norms for marketing spending

• Always measure your marketing ROI– Merchandise your successes – Create a scorecard that measures pre-determined

goals– Make a case for increased spending based on

goals achieved and demonstrated ROI

Page 5: Marketing on a Shoestring Budget

4-Step Process

• Whether your budget is 10% or 1%, base all campaigns on sound analysis and strategy.

• Steps are sequential.• Don’t jump into Tactics

right away.• Consistently evaluate

and adapt as needed.

Page 6: Marketing on a Shoestring Budget

Shoestring Tactics

• Website• Online marketing• Public Relations• Community Relations• Promotions• Speaking Engagements• Sponsorships• Networking• Strategic ad buys with added value• Events• Awards

Page 7: Marketing on a Shoestring Budget

Website as Viewbook

Best ROI Market your site SEO & SEM Update site Incorporate blog Hire pros Incorporate video Include SM links Links & directories

Page 8: Marketing on a Shoestring Budget

Online Marketing

Blog Facebook Twitter (monitor brand)

Flickr (photos)

Directories Reviews/Forums E-newsletter Email database Newsroom

Page 9: Marketing on a Shoestring Budget

Public Relations

Identify all of your various publics:

Parents Students Referral sources Employees Business and opinion leaders HR personnel Economic development leadership Media

Page 10: Marketing on a Shoestring Budget

Public Relations

How are you communicating with each of these publics?

Existing parents, students and employees can be best ambassadors of your brand.

Make sure they understand andcan communicate the brand platform

Create an elevator speech and make sure employees use it

Page 11: Marketing on a Shoestring Budget

Public Relations

Media relations is a great shoestring tactic

3rd party “endorsement” of brand

Be consistent in communicating with the media

Be an expert resource and provide story ideas

Engage in media training to hone skills

Localize national trends or stories

Develop relationships with reporters

Page 12: Marketing on a Shoestring Budget

Key Messages are Key

Develop 3 to 5 key messages for your organization

Internalize these key messages so you can easily articulate them

Use key messages in all interview opportunities

Interviews are about delivering key messages, not just answering questions.

Page 13: Marketing on a Shoestring Budget

Sweat equity

Volunteer

Does your organization promote and support volunteerism?

Board membership for leadership

Publicize your good works with local media and online

Community Relations

Page 14: Marketing on a Shoestring Budget

Creative ideas that tie into current events and trends

Example: Superbowl Talkies

Example: Take Your Dog to Work Day

Example: Extreme Makeover, County Edition

A clever idea can be easy to execute and can secure widespread media coverage.

Promotions

Page 15: Marketing on a Shoestring Budget

Position leadership as an expert and schedule speaking opportunities

Prepare speaker’s kit and put on website

Create series of presentations that can be delivered to various groups

Opportunities include:

Rotary, Kiwanas and other service clubsNewcomers ClubsLocal community college and university Conferences - local and regional

Speaking Engagements

Page 16: Marketing on a Shoestring Budget

Selective sponsorships can get you more bang for your buck than ad buys

Often receive speaking opportunity as part of sponsorship

Community relations benefit

Analyze sponsorships just like ad buys:

Identify the audience demographics - is it the right fit?Negotiate sponsorship benefitsLook for brand exposure opportunities Can you leave behind materials?

Sponsorships

Page 17: Marketing on a Shoestring Budget

Civic clubs

Chamber expos

Economic development

Social networking

Networking

Page 18: Marketing on a Shoestring Budget

Online ads with links

Ads linked to editorial

Added value with buys

Don’t overspend!

Strategic Ad Buys

Page 19: Marketing on a Shoestring Budget

Get them on campus!

Open houses

Let local groups use school auditoriums for community uses

Simple, creative and inexpensive

Special Events

Page 20: Marketing on a Shoestring Budget

It’s a sorry dog that can’t wag its own tail.

Awards generate publicity and credibility

Research and identify awards to target; create timetable

Pursue and publicize!

Awards

Page 21: Marketing on a Shoestring Budget

Set realistic goals for each tactic

Measure against goals

Be flexible and adapt

Merchandise and repeat successes

Be opportunistic

Evaluate & Adapt

Page 22: Marketing on a Shoestring Budget

www.talkinc.com

[email protected]

910-371-9770

Cell: 910-471-3181

Talk, Inc.